Top Pros' Top Picks 3/9/26

Author

Mike Larson
March 09, 2026

Mike Larson | Editor-in-Chief

Global markets are reeling today, with oil prices rocketing higher and stocks tumbling. Gold and silver are modestly lower along with Treasuries, while the dollar and Bitcoin are rising a bit.

The intensifying conflict in the Middle East is REALLY hitting home in commodity and equity markets now. US crude oil futures prices shot up 36% last week, the most in any week since the benchmark contract began changing hands in 1983. Then overnight and this morning, WTI futures soared ANOTHER 13% to $102.44 before easing back from intraday highs.

USO, UNG, SPY (1-Week % Change)

Data by YCharts

Oil hasn’t traded in the triple digits domestically since 2022. Natural gas prices also rose another 5% in the US – while really taking off globally. Case in point: European gas prices jumped another 14% overnight after a 67% surge last week.

The problem is the effective (though not “official”) shut down of the Strait of Hormuz in the Persian Gulf. Ships carrying oil, LNG, fertilizer, and other cargos aren’t transiting the Strait because insurance costs have exploded and shippers fear they’ll come under attack by Iran.

Drone and missile attacks on Gulf energy facilities have also curbed extraction and processing activity. Furthermore, big oil producers like Iraq, the UAE, Kuwait, and now Saudi Arabia are turning off the taps because land-based storage tanks are mostly topped off – and they can’t load more production on ships.

As for equity and bond markets, we’re seeing “stagflation” trades proliferate. Global stock markets have shed about $6 trillion in value amid fears the widening conflict and associated energy shock will kneecap growth. Meanwhile, we have NOT seen aggressive “flight to safety” moves into government bonds due to inflation fears tied to the pop in energy prices. Long-term interest rates remain elevated as a result.

In one final bit of war-related news, Iran picked Mojtaba Khamenei to succeed his deceased father Ayatollah Ali Khamenei as supreme leader over the weekend. The move signals that Iran will stick with a hardline approach to the conflict and its own population, rather than seek a speedy diplomatic offramp. That, in turn, suggests the conflict – and associated market volatility – will drag on.sler.

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MARKET OVERVIEW

S&P 500

6,740.02 (-1.33%) ↓

VIX

31.18 (+5.73%) ↑

Dow Jones Industrial Average

47,501.55 (-0.95%) ↓

Gold

$5,116.60 per ounce (-0.82%) ↓

Nasdaq Composite

22,387.68 (-1.59%) ↓

Oil

$97.68 per barrel (+7.46%) ↑

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TOP INVESTING IDEA

What’s the single biggest force driving up global energy prices? Anas Alhajji, managing partner at Energy Outlook Advisors, covers it in this excerpt from our recent “emergency” MoneyShow MoneyMasters Podcast. With crude oil trading above $100 a barrel now — and natural gas prices surging, too — you can’t afford to miss this one. 

Amid Fresh Volatility, Get EXPERT Market Help in Hollywood!

The Middle East conflict is continuing to wreak havoc on markets. But in our 45 years of educating investors and traders, we’ve seen plenty of turbulent times – and our commitment remains the same. We’ll connect you with the time-tested market experts who can help you navigate volatility. And they’ll give you strategies and recommendations that can make all the difference for your portfolio.

Your next opportunity to learn from them LIVE is the 2026 MoneyShow Masters Symposium Hollywood Florida. It’s set for April 9-11 at the Diplomat Beach Resort – and you can claim a pass to the event here…

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